Loading...

We've got a brand new version of Simply Wall St! Try it out

Tornos Holding

SWX:TOHN
Snowflake Description

Flawless balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TOHN
SWX
CHF137M
Market Cap
  1. Home
  2. CH
  3. Capital Goods
Company description

Tornos Holding AG engages in the development, manufacture, marketing, sale, and servicing of machines and related spare parts worldwide. The last earnings update was 97 days ago. More info.


Add to Portfolio Compare Print
TOHN Share Price and Events
7 Day Returns
-2.5%
SWX:TOHN
-0.3%
CH Machinery
-0%
CH Market
1 Year Returns
2.8%
SWX:TOHN
14.4%
CH Machinery
13.3%
CH Market
TOHN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Tornos Holding (TOHN) -2.5% -1.8% -0.6% 2.8% 145% 17.3%
CH Machinery -0.3% 7.6% 15.7% 14.4% 26.5% 41.5%
CH Market -0% 3.2% 4.8% 13.3% 21.9% 13%
1 Year Return vs Industry and Market
  • TOHN underperformed the Machinery industry which returned 14.4% over the past year.
  • TOHN underperformed the Market in Switzerland which returned 13.3% over the past year.
Price Volatility
TOHN
Industry
5yr Volatility vs Market

TOHN Value

 Is Tornos Holding undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Tornos Holding to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Tornos Holding.

SWX:TOHN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.6%
Perpetual Growth Rate 10-Year CH Government Bond Rate 3.3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for SWX:TOHN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CH Govt Bond Rate 3.3%
Equity Risk Premium S&P Global 6%
Machinery Unlevered Beta Simply Wall St/ S&P Global 1.08
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.078 (1 + (1- 18%) (0.16%))
1.053
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.05
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 3.28% + (1.053 * 5.96%)
9.55%

Discounted Cash Flow Calculation for SWX:TOHN using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Tornos Holding is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

SWX:TOHN DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CHF, Millions) Source Present Value
Discounted (@ 9.55%)
2020 11.00 Analyst x1 10.04
2021 8.80 Analyst x1 7.33
2022 10.20 Analyst x1 7.76
2023 10.01 Est @ -1.82% 6.95
2024 9.99 Est @ -0.29% 6.33
2025 10.06 Est @ 0.78% 5.82
2026 10.22 Est @ 1.53% 5.39
2027 10.43 Est @ 2.05% 5.02
2028 10.68 Est @ 2.42% 4.70
2029 10.96 Est @ 2.68% 4.40
Present value of next 10 years cash flows CHF63.00
SWX:TOHN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CHF10.96 × (1 + 3.28%) ÷ (9.55% – 3.28%)
CHF180.35
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CHF180.35 ÷ (1 + 9.55%)10
CHF72.42
SWX:TOHN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CHF63.00 + CHF72.42
CHF135.42
Equity Value per Share
(CHF)
= Total value / Shares Outstanding
= CHF135.42 / 19.60
CHF6.91
SWX:TOHN Discount to Share Price
Calculation Result
Value per share (CHF) From above. CHF6.91
Current discount Discount to share price of CHF6.91
= -1 x (CHF6.91 - CHF6.91) / CHF6.91
-0%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Tornos Holding is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Tornos Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Tornos Holding's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SWX:TOHN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in CHF CHF0.97
SWX:TOHN Share Price ** SWX (2019-11-15) in CHF CHF6.91
Switzerland Machinery Industry PE Ratio Median Figure of 25 Publicly-Listed Machinery Companies 23.34x
Switzerland Market PE Ratio Median Figure of 171 Publicly-Listed Companies 19.23x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Tornos Holding.

SWX:TOHN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SWX:TOHN Share Price ÷ EPS (both in CHF)

= 6.91 ÷ 0.97

7.15x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Tornos Holding is good value based on earnings compared to the CH Machinery industry average.
  • Tornos Holding is good value based on earnings compared to the Switzerland market.
Price based on expected Growth
Does Tornos Holding's expected growth come at a high price?
Raw Data
SWX:TOHN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.15x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
-25%per year
Switzerland Machinery Industry PEG Ratio Median Figure of 23 Publicly-Listed Machinery Companies 1.18x
Switzerland Market PEG Ratio Median Figure of 124 Publicly-Listed Companies 2.17x

*Line of best fit is calculated by linear regression .

SWX:TOHN PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.15x ÷ -25%

-0.29x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Tornos Holding earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Tornos Holding's assets?
Raw Data
SWX:TOHN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in CHF CHF5.60
SWX:TOHN Share Price * SWX (2019-11-15) in CHF CHF6.91
Switzerland Machinery Industry PB Ratio Median Figure of 25 Publicly-Listed Machinery Companies 2.3x
Switzerland Market PB Ratio Median Figure of 214 Publicly-Listed Companies 1.66x
SWX:TOHN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SWX:TOHN Share Price ÷ Book Value per Share (both in CHF)

= 6.91 ÷ 5.60

1.24x

* Primary Listing of Tornos Holding.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Tornos Holding is good value based on assets compared to the CH Machinery industry average.
X
Value checks
We assess Tornos Holding's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Machinery industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Machinery industry average (and greater than 0)? (1 check)
  5. Tornos Holding has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

TOHN Future Performance

 How is Tornos Holding expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-25%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Tornos Holding expected to grow at an attractive rate?
  • Tornos Holding's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 3.3%.
Growth vs Market Checks
  • Tornos Holding's earnings are expected to decrease over the next 1-3 years, this is below the Switzerland market average.
  • Tornos Holding's revenues are expected to decrease over the next 1-3 years, this is below the Switzerland market average.
Annual Growth Rates Comparison
Raw Data
SWX:TOHN Future Growth Rates Data Sources
Data Point Source Value (per year)
SWX:TOHN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts -25%
SWX:TOHN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts -6.2%
Switzerland Machinery Industry Earnings Growth Rate Market Cap Weighted Average 14.5%
Switzerland Machinery Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
Switzerland Market Earnings Growth Rate Market Cap Weighted Average 9.9%
Switzerland Market Revenue Growth Rate Market Cap Weighted Average 3.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
SWX:TOHN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in CHF Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SWX:TOHN Future Estimates Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31
2021-12-31 193 13 10 1
2020-12-31 188 16 10 1
2019-12-31 206 19 12 2
2019-11-18
SWX:TOHN Past Financials Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income *
2019-06-30 228 6 19
2019-03-31 221 13 17
2018-12-31 215 19 15
2018-09-30 208 21 14
2018-06-30 201 22 13
2018-03-31 190 27 11
2017-12-31 179 32 8
2017-09-30 164 4
2017-06-30 148 9 0
2017-03-31 142 -3 -2
2016-12-31 136 -14 -4
2016-09-30 144 -2

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Tornos Holding's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Tornos Holding's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SWX:TOHN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Tornos Holding Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SWX:TOHN Future Estimates Data
Date (Data in CHF Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 0.56 0.56 0.56 1.00
2020-12-31 0.52 0.52 0.52 1.00
2019-12-31 0.64 0.64 0.64 1.00
2019-11-18
SWX:TOHN Past Financials Data
Date (Data in CHF Millions) EPS *
2019-06-30 0.97
2019-03-31 0.88
2018-12-31 0.79
2018-09-30 0.74
2018-06-30 0.70
2018-03-31 0.57
2017-12-31 0.45
2017-09-30 0.23
2017-06-30 0.02
2017-03-31 -0.08
2016-12-31 -0.19
2016-09-30 -0.09

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Tornos Holding is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Tornos Holding's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Switzerland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Switzerland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Tornos Holding has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

TOHN Past Performance

  How has Tornos Holding performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Tornos Holding's growth in the last year to its industry (Machinery).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Tornos Holding has delivered over 20% year on year earnings growth in the past 5 years.
  • Tornos Holding's 1-year earnings growth is less than its 5-year average (39.7% vs 76.1%)
  • Tornos Holding's earnings growth has exceeded the CH Machinery industry average in the past year (39.7% vs 2.7%).
Earnings and Revenue History
Tornos Holding's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Tornos Holding Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SWX:TOHN Past Revenue, Cash Flow and Net Income Data
Date (Data in CHF Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 228.03 18.79 48.99 9.19
2019-03-31 221.45 16.99 48.57 9.65
2018-12-31 214.86 15.19 48.15 10.11
2018-09-30 207.76 14.32 46.89 10.63
2018-06-30 200.66 13.45 45.64 11.15
2018-03-31 189.71 10.97 44.67 10.76
2017-12-31 178.76 8.49 43.70 10.38
2017-09-30 163.58 4.44 42.65 9.70
2017-06-30 148.41 0.38 41.59 9.01
2017-03-31 142.29 -1.59 41.24 8.40
2016-12-31 136.17 -3.55 40.89 7.78
2016-09-30 143.69 -1.74 41.10 8.02
2016-06-30 151.22 0.07 41.30 8.27
2016-03-31 157.59 0.62 40.65 8.06
2015-12-31 163.95 1.18 39.99 7.86
2015-09-30 166.03 -0.22 40.98 7.53
2015-06-30 168.10 -1.62 41.97 7.21
2015-03-31 171.95 0.69 42.73 7.09
2014-12-31 175.81 3.00 43.48 6.98
2014-09-30 181.09 -15.37 45.42 6.65
2014-06-30 164.83 -21.44 44.96 6.81
2014-03-31 157.82 -28.53 45.72 7.37
2013-12-31 150.82 -35.63 46.48 7.94
2013-09-30 158.05 -27.28 47.33 16.07
2013-06-30 162.01 -27.89 48.51 9.39
2013-03-31 171.79 -25.26 50.44 10.30
2012-12-31 181.57 -22.63 52.37 11.20

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Tornos Holding has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Tornos Holding used its assets more efficiently than the CH Machinery industry average last year based on Return on Assets.
  • Tornos Holding has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Tornos Holding's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Machinery industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Tornos Holding has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

TOHN Health

 How is Tornos Holding's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Tornos Holding's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Tornos Holding is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Tornos Holding's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Tornos Holding's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Tornos Holding has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Tornos Holding Company Filings, last reported 4 months ago.

SWX:TOHN Past Debt and Equity Data
Date (Data in CHF Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 110.20 0.00 18.74
2019-03-31 110.20 0.00 18.74
2018-12-31 105.36 0.00 35.93
2018-09-30 105.36 0.00 35.93
2018-06-30 97.81 0.00 27.70
2018-03-31 97.81 0.00 27.70
2017-12-31 90.24 0.00 23.66
2017-09-30 90.24 0.00 23.66
2017-06-30 81.58 10.34 15.63
2017-03-31 81.58 10.34 15.63
2016-12-31 80.35 14.25 9.60
2016-09-30 80.35 14.25 9.60
2016-06-30 80.48 9.36 11.16
2016-03-31 80.48 9.36 11.16
2015-12-31 84.11 9.31 20.61
2015-09-30 84.11 9.31 20.61
2015-06-30 82.61 5.34 12.90
2015-03-31 82.61 5.34 12.90
2014-12-31 85.20 0.37 15.43
2014-09-30 85.20 0.37 15.43
2014-06-30 71.04 10.41 26.89
2014-03-31 71.04 10.41 26.89
2013-12-31 81.30 10.43 11.14
2013-09-30 90.40 10.48 14.24
2013-06-30 97.80 10.55 14.63
2013-03-31 97.80 10.55 14.63
2012-12-31 81.85 40.57 16.87
  • Tornos Holding has no debt.
  • Tornos Holding has no debt compared to 5 years ago when it was 14.4%.
  • Tornos Holding has no debt, it does not need to be covered by operating cash flow.
  • Tornos Holding has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Tornos Holding's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Tornos Holding has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

TOHN Dividends

 What is Tornos Holding's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.05%
Current annual income from Tornos Holding dividends. Estimated to be 4.58% next year.
If you bought CHF2,000 of Tornos Holding shares you are expected to receive CHF81 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Tornos Holding's pays a higher dividend yield than the bottom 25% of dividend payers in Switzerland (1.85%).
  • Tornos Holding's dividend is above the markets top 25% of dividend payers in Switzerland (3.6%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
SWX:TOHN Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Switzerland Machinery Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 2.2%
Switzerland Market Average Dividend Yield Market Cap Weighted Average of 163 Stocks 2.9%
Switzerland Minimum Threshold Dividend Yield 10th Percentile 1.2%
Switzerland Bottom 25% Dividend Yield 25th Percentile 1.8%
Switzerland Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SWX:TOHN Future Dividends Estimate Data
Date (Data in CHF) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31 0.33 2.00
2020-12-31 0.33 2.00
2019-12-31 0.30 2.00
2019-11-18
SWX:TOHN Past Annualized Dividends Data
Date (Data in CHF) Dividend per share (annual) Avg. Yield (%)
2019-03-11 0.280 3.698
2018-03-12 0.150 1.592

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Tornos Holding has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Tornos Holding only paid a dividend in the past 2 years.
Current Payout to shareholders
What portion of Tornos Holding's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.5x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Tornos Holding's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Tornos Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Tornos Holding has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

TOHN Management

 What is the CEO of Tornos Holding's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Michael Hauser
COMPENSATION CHF1,030,000
AGE 58
TENURE AS CEO 8.2 years
CEO Bio

Mr. Michael Hauser has been the Chief Executive Officer of Tornos Holding AG since September 1, 2011. Mr. Hauser served as Head of GF AgieCharmilles of Georg Fischer AG from August 31, 2008 to August 2010. He served as Head of Marketing and Sales Support and Head of Technology Unit Milling at Agie Charmilles Holding AG from 2005 to 2008. He has been Director of Starrag Group Holding AG since April 28, 2018. Mr. Hauser served as Head of Mikron at Agie Charmilles Holding AG from 2000 to 2004. Mr. Hauser served as Chairman of the Milling Machines business unit and Member of the Group management of Mikron Technology Group, Biel, Switzerland from 1996 to 2000 and Head of Donau Werkzeug-maschinen GmbH, Langenau, Germany from 1995 to 1996. Mr. Hauser held various posts with Maho in Italy and Germany from 1989 to 1994, including as Consolidation Accountant at Schlumberger Technical Services Inc., London from 1988 to 1989. He is President of Swissmem's Machinetool and manufacturing technology group. He is a Member of the Board of Cecimo, the European Committee for Cooperation of the Machine Tool Industries. He holds degrees in Mechanical Engineering from Munich Technical University and Business Administration/Management from the University of Mannheim, where he earned a BA.

CEO Compensation
  • Michael's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Michael's remuneration is higher than average for companies of similar size in Switzerland.
Management Team Tenure

Average tenure and age of the Tornos Holding management team in years:

5.8
Average Tenure
53.5
Average Age
  • The average tenure for the Tornos Holding management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Michael Hauser

TITLE
Chief Executive Officer
COMPENSATION
CHF1M
AGE
58
TENURE
8.2 yrs

Bruno Edelmann

TITLE
Chief Financial Officer
AGE
53
TENURE
4.8 yrs

Bruno Allemand

TITLE
Head of Sales & Marketing
AGE
54
TENURE
6.8 yrs

Luc Widmer

TITLE
Head of Global Supply Chain Management
AGE
50
TENURE
4.8 yrs
Board of Directors

François Frôté

TITLE
Chairman
COMPENSATION
CHF226K
AGE
66

Frank Brinken

TITLE
Vice Chairman
COMPENSATION
CHF136K
AGE
71

Walter Fust

TITLE
Non-Executive Director
COMPENSATION
CHF136K
AGE
78
TENURE
5.8 yrs

Michel Rollier

TITLE
Non-Executive Director
COMPENSATION
CHF139K
AGE
60
TENURE
17.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CHF) Value (CHF)
X
Management checks
We assess Tornos Holding's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Tornos Holding has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

TOHN News

Simply Wall St News

Announcing: Tornos Holding (VTX:TOHN) Stock Increased An Energizing 134% In The Last Three Years

Tornos Holding AG (VTX:TOHN) shareholders have seen the share price descend 15% over the month. … Tornos Holding was able to grow its EPS at 535% per year over three years, sending the share price higher. … As it happens, Tornos Holding's TSR for the last 3 years was 146%, which exceeds the share price return mentioned earlier.

Simply Wall St -

Evaluating Tornos Holding AG’s (VTX:TOHN) Investments In Its Business

Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Tornos Holding: 0.16 = CHF19m ÷ (CHF170m - CHF58m) (Based on the trailing twelve months to June 2019.) Therefore, Tornos Holding has an ROCE of 16%. … How Tornos Holding's Current Liabilities Impact Its ROCE Short term (or current) liabilities, are things like supplier invoices, overdrafts, or tax bills that need to be paid within 12 months. … The ROCE equation subtracts current liabilities from capital employed, so a company with a lot of current liabilities appears to have less capital employed, and a higher ROCE than otherwise.

Simply Wall St -

Is It Too Late To Consider Buying Tornos Holding AG (VTX:TOHN)?

Tornos Holding AG (VTX:TOHN), which is in the machinery business, and is based in Switzerland, saw significant share price movement during recent months on the SWX, rising to highs of CHF8.96 and falling to the lows of CHF7. … According to my valuation model, Tornos Holding seems to be fairly priced at around 12.95% above my intrinsic value, which means if you buy Tornos Holding today, you’d be paying a relatively reasonable price for it. … TOHN’s future growth appears to have been factored into the current share price, with shares trading around its fair value.

Simply Wall St -

Why Tornos Holding AG (VTX:TOHN) Is A Dividend Rockstar

Tornos Holding has only been paying a dividend for a year or so, so investors might be curious about its 3.6% yield. … Strong earnings per share (EPS) growth might encourage our interest in the company despite fluctuating dividends, which is why it's great to see Tornos Holding has grown its earnings per share at 84% per annum over the past five years. … Unfortunately, there hasn't been any earnings growth, and the company's dividend history has been too short for us to evaluate the consistency of the dividend.

Simply Wall St -

What Are Analysts Saying About Tornos Holding AG's (VTX:TOHN) Future?

In this article, I've outline a few earnings growth rates to give you a sense of the market sentiment for Tornos Holding in the longer term. … View our latest analysis for Tornos Holding What can we expect from Tornos Holding in the longer term? … To get an idea of the overall earnings growth trend for TOHN, I’ve plotted out each year’s earnings expectations and inserted a line of best fit to determine an annual rate of growth from the slope of this line.

Simply Wall St -

Does Tornos Holding AG (VTX:TOHN) Create Value For Shareholders?

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Tornos Holding: 15% = CHF15m ÷ CHF105m (Based on the trailing twelve months to December 2018.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … Does Tornos Holding Have A Good Return On Equity? … Combining Tornos Holding's Debt And Its 15% Return On Equity Although Tornos Holding does use a little debt, its debt to equity ratio of just 0.0025 is very low.

Simply Wall St -

Tornos Holding AG (VTX:TOHN): What Can We Expect From This High Growth Stock?

In March 2019, Tornos Holding AG (VTX:TOHN) released its most recent earnings announcement, which revealed that the business gained from a large tailwind, eventuating to a high double-digit earnings growth of 79%. … Investors may find it useful to understand how market analysts perceive Tornos Holding's earnings growth trajectory over the next few years and whether the future looks even brighter than the past. … Check out our latest analysis for Tornos Holding Analysts' outlook for the coming year seems optimistic, with earnings expanding by a robust 10%.

Simply Wall St -

Tornos Holding AG (VTX:TOHN) Has Attractive Fundamentals

For those interested in understanding where the figures come from and want to see the analysis, read the full report on Tornos Holding here. … SWX:TOHN Income Statement, July 5th 2019 Next Steps: For Tornos Holding, I've put together three essential aspects you should further research: Future Outlook: What are well-informed industry analysts predicting for TOHN’s future growth? … The intrinsic value infographic in our free research report helps visualize whether TOHN is currently mispriced by the market.

Simply Wall St -

Calculating The Fair Value Of Tornos Holding AG (VTX:TOHN)

A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we discount the value of these future cash flows to their estimated value in today's dollars: 10-year free cash flow (FCF) estimate 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF (CHF, Millions) CHF20.10 CHF15.20 CHF11.10 CHF10.10 CHF9.53 CHF9.25 CHF9.15 CHF9.17 CHF9.27 CHF9.44 Growth Rate Estimate Source Analyst x1 Analyst x1 Analyst x1 Analyst x1 Est @ -5.63% Est @ -2.96% Est @ -1.09% Est @ 0.22% Est @ 1.14% Est @ 1.78% Present Value (CHF, Millions) Discounted @ 9.49% CHF18.36 CHF12.68 CHF8.46 CHF7.03 CHF6.06 CHF5.37 CHF4.85 CHF4.44 CHF4.10 CHF3.81 Present Value of 10-year Cash Flow (PVCF)= CHF75.15m "Est" = FCF growth rate estimated by Simply Wall St The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = CHF9.4m × (1 + 3.3%) ÷ (9.5% – 3.3%) = CHF157m Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = CHFCHF157m ÷ ( 1 + 9.5%)10 = CHF63.33m The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is CHF138.47m. … SWX:TOHN Intrinsic value, June 11th 2019 Important assumptions We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows.

Simply Wall St -

Is Tornos Holding AG (VTX:TOHN) Overpaying Its CEO?

First, this article will compare CEO compensation with compensation at similar sized companies. … Check out our latest analysis for Tornos Holding How Does Michael Hauser's Compensation Compare With Similar Sized Companies? … We compared the total CEO remuneration paid by Tornos Holding AG, and compared it to remuneration at a group of similar sized companies.

Simply Wall St -

TOHN Company Info

Description

Tornos Holding AG engages in the development, manufacture, marketing, sale, and servicing of machines and related spare parts worldwide. The company manufactures Swiss-type automatic lathes, multispindle machines, milling products, and bar feeders, as well as machine communication and programming software. It also provides various services, such as handling and programming, preventive maintenance, and online fault reporting services; spare parts; machine overhaul, updation, and upgradation, as well as used equipment; and training services. The company serves automotive, micromechanic, electronic, and medical and dental industries. Tornos Holding AG was founded in 1880 and is headquartered in Moutier, Switzerland.

Details
Name: Tornos Holding AG
TOHN
Exchange: SWX
Founded: 1880
CHF136,992,480
19,598,352
Website: http://www.tornos.com
Address: Tornos Holding AG
Rue Industrielle 111,
PO Box 960,
Moutier,
Bern, 2740,
Switzerland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX TOHN Registered Shares SIX Swiss Exchange CH CHF 13. Mar 2001
DB TNSN Registered Shares Deutsche Boerse AG DE EUR 13. Mar 2001
LSE 0QK0 Registered Shares London Stock Exchange GB CHF 13. Mar 2001
Number of employees
Current staff
Staff numbers
760
Tornos Holding employees.
Industry
Industrial Machinery
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/18 20:48
End of day share price update: 2019/11/15 00:00
Last estimates confirmation: 2019/10/28
Last earnings filing: 2019/08/13
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.